Sarepta Therapeutics, Inc. (NASDAQ:SRPT) Short Interest Update

Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Get Free Report) saw a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 6,100,000 shares, a growth of 25.8% from the March 15th total of 4,850,000 shares. Currently, 6.9% of the company's shares are sold short. Based on an average daily trading volume, of 1,670,000 shares, the days-to-cover ratio is presently 3.7 days.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SRPT. Deutsche Bank Aktiengesellschaft cut their target price on shares of Sarepta Therapeutics from $124.00 to $99.00 and set a "hold" rating on the stock in a research note on Wednesday, March 19th. Morgan Stanley decreased their target price on Sarepta Therapeutics from $196.00 to $182.00 and set an "overweight" rating for the company in a report on Friday, April 11th. HC Wainwright reissued a "neutral" rating and set a $75.00 target price on shares of Sarepta Therapeutics in a research note on Wednesday, April 16th. Piper Sandler reduced their price target on Sarepta Therapeutics from $182.00 to $110.00 and set an "overweight" rating on the stock in a research report on Monday. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $163.00 price objective on shares of Sarepta Therapeutics in a research report on Tuesday, March 18th. Six research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Sarepta Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $158.70.

Insider Buying and Selling at Sarepta Therapeutics

In other news, Director Claude Nicaise sold 2,491 shares of Sarepta Therapeutics stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $99.64, for a total value of $248,203.24. Following the completion of the sale, the director now directly owns 27,812 shares of the company's stock, valued at approximately $2,771,187.68. The trade was a 8.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 7.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sarepta Therapeutics

Several hedge funds have recently made changes to their positions in the business. World Investment Advisors LLC purchased a new position in Sarepta Therapeutics during the 3rd quarter worth $2,418,000. Tidal Investments LLC grew its holdings in Sarepta Therapeutics by 91.2% during the 3rd quarter. Tidal Investments LLC now owns 5,634 shares of the biotechnology company's stock valued at $704,000 after buying an additional 2,688 shares during the last quarter. Garden State Investment Advisory Services LLC purchased a new stake in Sarepta Therapeutics during the 3rd quarter worth about $2,115,000. GAMMA Investing LLC grew its holdings in shares of Sarepta Therapeutics by 27.7% during the fourth quarter. GAMMA Investing LLC now owns 854 shares of the biotechnology company's stock worth $104,000 after buying an additional 185 shares in the last quarter. Finally, Everence Capital Management Inc. purchased a new stake in Sarepta Therapeutics in the 4th quarter worth approximately $344,000. Institutional investors and hedge funds own 86.68% of the company's stock.

Sarepta Therapeutics Stock Performance

NASDAQ:SRPT traded up $0.14 during trading hours on Wednesday, reaching $59.45. 1,929,627 shares of the company's stock were exchanged, compared to its average volume of 1,425,617. Sarepta Therapeutics has a 1-year low of $48.01 and a 1-year high of $173.25. The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $5.77 billion, a price-to-earnings ratio of 47.56 and a beta of 0.93. The company has a 50-day moving average of $79.14 and a 200 day moving average of $106.58.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery and development of RNA-targeted therapeutics, gene therapies, and other genetic therapeutic modalities for the treatment of rare diseases. It offers EXONDYS 51 injection to treat duchenne muscular dystrophy (duchenne) in patients with confirmed mutation of the dystrophin gene that is amenable to exon 51 skipping; VYONDYS 53 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene that is amenable to exon 53 skipping; AMONDYS 45 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene; and ELEVIDYS, an adeno-associated virus based gene therapy for the treatment of ambulatory pediatric patients aged 4 through 5 years with duchenne with a confirmed mutation in the duchenne gene.